SINGAPORE (Commodity Online) : Gold prices hit a fresh four-months high in Asian trade Monday mainly on euros rebound as EU offered a bailout pack to Greece.
Gold for immediate delivery was seen trading at $1165.35 an ounce at 11.30 a.m while U.S. gold futures for June delivery was at $1,166.40 per ounce at the asame time.
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The dollar fell as much as 1.2 per cent against a basket of six currencies including the euro, which climbed for a third day after European governments offered Greece a rescue package worth as much as 45 billion euros ($US61 billion) at below-market interest rates.
Meanwhile, holdings at the world's largest gold-backed exchange-traded fund, the SPDR Gold Trust, rose to an all-time high of 1,141.041 metric tones as of April 9, topping the previous record hit the day before.
Spot palladium rose to a two-year high of $518.25, the highest since March 2008, while spot platinum marked a 20-month high of $1,734.00, the highest since August 1, 2008. Silver rose as high as $18.54 an ounce, the highest since January 20.
The euro jumped to its highest in nearly a month on Monday, after European Union leaders agreed to a rescue package for Greece that traders said could drive investors to cover short positions.
On Friday, June gold rose $9.00 to settle at $1,161.90 per fine ounce on the COMEX division of the NY Mercantile Exchange.
May silver rose 22.4 cents to settle at $18.351 per fine ounce. May copper rose 0.35 cent to settle at $3.5900 per pound.
